Substitute Payments definition

Substitute Payments means payments in amounts equal to all distributions made to holders of Loaned Securities during the term of the loan, including, but not limited to, cash dividends, interest payments, shares of stock as a result of stock splits, and rights to purchase additional securities.
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Substitute Payments shall not initiate fees which are not required of a non-member. The failure of employees to (1) maintain their membership in the Union in good standing or (2) to make substitute payments shall result in their discharge unless membership was terminated for reasons other than the failure of the employees to tender initiation fees and periodic dues uniformly required as a condition of acquiring or retaining membership.
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Substitute Payments shall not initiate fees which are not required of a non-member. The failure of employees to (1) maintain their membership in the Union in good standing or (2) to make
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Examples of Substitute Payments in a sentence

  • The Client acknowledges that the tax treatment of Substitute Payments may differ from the tax treatment of the interest or dividend to which such payment relates and that the Client has made its own determination as to the tax treatment of any securities loan transactions undertaken pursuant to this Agreement and of any dividends, distributions, remuneration or other funds received hereunder.

  • Income, corporate actions and Substitute Payments (as defined in Sections 7.1 and 7.2) shall be dealt with as provided in this Section 7.

  • Income, corporate actions and Substitute Payments (as defined in Sections 6.1 and 6.2) shall be dealt with as provided in this Section 6.

  • The Fund acknowledges that the tax treatment of Substitute Payments may differ from the tax treatment of the interest or dividend to which such payment relates and that the Fund has made its own determination as to the tax treatment of any securities loan transactions undertaken pursuant to this Agreement and of any dividends, distributions, remuneration or other funds received hereunder.

  • All Substitute Payments shall be subject to any requirements of applicable taxing authorities concerning withholding of tax on such payments.

  • Substitute Payments shall be in addition to other payments otherwise due under this Agreement.

  • Notwithstanding anything to the contrary under this Agreement, if at any time the Company determines in its sole discretion that it cannot provide the COBRA Substitute Payments without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), Executive will not receive the COBRA Substitute Payments or any further COBRA Reimbursements.

  • Agent shall credit to the account of the Lending Fund the net amount of all Substitute Payments of cash on the payable dates thereof, subject to section 9.3 of this Agreement.

  • Agent may also advance funds to a Lending Fund for the payment of Rebate Fees or other amounts due to a Borrower, or for the payment of Substitute Payments, Net Revenues or any other amounts due from the Borrower to the Lending Fund hereunder.

  • The Trust acknowledges that the tax treatment of Substitute Payments may differ from the tax treatment of the interest or dividend to which such payment relates and that the Trust has made its own determination as to the tax treatment of any securities loan transactions undertaken pursuant to this Agreement and of any dividends, distributions, remuneration or other funds received hereunder.


More Definitions of Substitute Payments

Substitute Payments shall not include initiation fees which are not required of a non-member. The failure of employees to
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